ChiniMandi, Mumbai: 10th November 2023
Domestic Market
Domestic sugar prices quoted stable to weak
Sugar prices in the major domestic market remain low due to weak demand. Because the old crop is still being traded and crushing activity has not yet begun, prices have remained low. Prices in Maharashtra and Karnataka fell another Rs 10 per quintal today, while prices in Uttar Pradesh remained stable. As the crushing operation begins, prices are expected to remain stable in the short to medium term.
In Kolhapur, S-grade sugar was priced between Rs 3,610 and Rs 3,640 per quintal, while M-grade sugar was priced between Rs 3,900 and Rs 3,940. According to Agrimandi.live, S grade sugar will trade in Kolhapur markets for between Rs 3,600 and Rs 3,720 over the next two weeks.
Ex-mill Sugar Prices as on November, 10 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3650 |
₹3720 to 3750 |
|
Karnataka |
₹3640 to 3665 |
₹3735 |
|
Uttar Pradesh |
|
₹3840 to 3930 |
|
Gujarat |
₹3681 to 3721 |
₹3761 to 3801 |
|
Tamil Nadu |
₹3740 to 3850 |
₹3800 to 3900 |
|
Madhya Pradesh |
₹3840 to 3855 |
₹3910 to 3925 |
|
Punjab |
₹3980 to 4180 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 10 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,126.50 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,095.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $757.60 ton, whereas the New York Sugar #11 front month contract is trading at 27.75 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.324 whereas USD was trading with BRL at 4.9345, Crude futures traded at ₹6384, Crude WTI traded at $76.45 barrel. Sensex closed 72.48 points higher at 64904.68 whereas Nifty ended 30.05 points higher at 19425.35
News Round-Up
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